It is my understanding that the FAFSA is due March 3rd or there-abouts every year, about a month before your taxes need to be filed. You are just supposed to do them early or fill out the FAFSA with estimates and go back once you have filed and fix them. In other words, do you FAFSA now and fix it later.

I know my school required we do it by March 3rd so I figured that was the FAFSA deadline

No, I know what OP is talking about, I got it too. Yes, you estimate and then correct after your taxes are filed, but the Dept of Ed just sent out an email to people who estimated (at least, I got one and obviously so did OP) that says "Now that the deadline to file your 2011 federal taxes has passed, you need to correct your FAFSA"

Of course, the tax filing deadline hasn't passed yet, someone at the Dept of Ed is just wrong/early/confused. Shocking...